1 July 2024 - BMO Entreprenør AS ("BMO"), a wholly owned subsidiary of Endúr ASA
("Endúr"), has acquired 100% of the shares in Norsk Bergsikring AS ("NBS") from
Airconstruction AS (a company controlled by Arne Stang Invest AS). 

NBS is an infrastructure company, located in Stongfjorden, Norway, specialized
within rockfall, landslide and avalanche protection. Both signing of share
purchase agreement (SPA) and closing has taken place today.

The business of NBS is highly complementary to BMO's operations within
rehabilitation of concrete structures, such as dams, bridges and tunnels. The
outlook for both NBS and BMO remains attractive due to an increasing maintenance
gap on critical infrastructure. The services of NBS are provided to
infrastructure owners like The Norwegian Public Roads Administration (No:
Statens Vegvesen), regional counties and local municipalities, where the company
can take the role as both main contractor and sub-contractor. Among other
projects, NBS is currently working as a sub-contractor for Hæhre at Andfjord
Salmon and Skanska on E16 Bjørgum - Skaret.

"We have cooperated with NBS on several projects and are highly familiar with
the company's services and contract formats. The acquisition provides capacity
within another attractive infrastructure rehabilitation niche. We believe that
we can significantly increase the company's utilization rates and earnings",
says Aleksander Rød, General Manager of BMO.  

The company projects FY 2024 revenues in range of NOK 25 - 30 million and owns
and operates  a variety of specialized equipment used for geo surveys, drilling
and mounting in less accessible locations. The transaction values NBS's equity
to approximately NOK 20 million and also includes the refinancing of
approximately NOK 13 million in existing loan facilities. The acquisition is
financed as follows:
 
Consideration shares in Endúr of NOK 10 million

Bank financing (delayed Q3'24 installment) of NOK 13 million

Existing cash balances of NOK 10 million
 
*) The price of the consideration shares equals the volume-weighted average
share price for the last 10 days prior to the transaction. The consideration
shares will be subject to a lock-up period of 18 months. 

(ENDS)

For further information, please contact:

Media
Jeppe Raaholt, CEO of Endúr, tel.: +47 976 69 759
Aleksander Rød, General Manager of BMO, tel. +47 994 61 454

Investors
Einar Olsen, CFO of Endúr, tel: +47 924 01 787

About Endúr ASA
Endúr ASA (OSE: ENDUR) is a leading supplier of construction and maintenance
projects and services for marine infrastructure, including facilities for
land-based aquaculture, quays, harbours, dams, bridges and other specialized
concrete and steel projects. The company and its subsidiaries also offer a wide
range of other specialized project and marine services. Endúr ASA is
headquartered in Lysaker, Norway. See www.endur.no.